The Scalper Signal indicator for mt4 (Metatrader 4) delivers scalping signals for any currency pair on any time frame, even on the daily chart.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
The signals appear on the main MT4 chart window in the form of green and red colored signal arrows.
Buy & Sell Trade Example
- Open a buy position when the green arrow gets printed on the chart.
- Open a sell position when the red arrow gets printed on the chart.
- Aim for 7-40 pips profit per trade (depends on your chosen time frame).
The Forex Scalper Signal indicator can be used for both trade entry and exit or as an additional short-term trend filter.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “scalper signal.mq4” indicator for MT4
Indicator Chart (EUR/USD M15)
The example chart below shows the Scalper Signal mt4 indicator in action.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method when trading with the Forex Scalper Signal indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Scalper
Does the indicator repaint? No.
Scalper Signal + Cynthia’s Trend Bars MT4 Scalping Strategy
This MT4 scalping strategy pairs the Scalper Signal Forex Indicator with the Cynthia’s Trend Bars Indicator.
It is designed for fast-paced entries on short timeframes (M1–M15) across several currency pairs (e.g., EUR/USD, GBP/USD, AUD/USD, USD/JPY).
The idea is simple: use clear signal arrows to trigger trades, and trend bars to filter direction and momentum.
This strategy is best suited for active traders comfortable executing multiple trades per session.
The Scalper Signal indicator shows a green arrow for a buy and a red arrow for a sell.
The Cynthia’s Trend Bars indicator colors the bars — green bars indicate a buy trend, purple bars indicate a sell trend.
By combining them, you aim to trade only when both the arrow and the trend bar color align, improving accuracy and reducing random entries.
Buy Entry Rules
- Wait for a green arrow on the Scalper Signal indicator to appear on the chart.
- Ensure the current bars from Cynthia’s Trend Bars are green, showing bullish trend momentum.
- Enter a buy position immediately after confirmation of both signals.
- Set a stop loss a few pips below the most recent swing low (or below the arrow’s candle low).
- Set a take profit target of 10–20 pips (for very short M1/M5 trades) or 20–40 pips (for M15)
- OR exit when Cynthia’s Trend Bars change from green to purple, signaling trend weakening.
Sell Entry Rules
- Wait for a red arrow on the Scalper Signal indicator to appear on the chart.
- Ensure the Cynthia’s Trend Bars are purple, indicating bearish trend momentum.
- Enter a sell position immediately after both signals align.
- Place a stop loss a few pips above the most recent swing high (or above the arrow’s candle high).
- Set a take profit target of 10–20 pips (on M1/M5) or 20–40 pips (on M15)
- OR exit when Cynthia’s bars switch from purple to green, signaling trend reversal or weakening.
Advantages
- Simple and visually clear: arrows and bar colors make signal identification fast.
- Designed for scalping: small stop losses and profit targets allow multiple trades per session.
- Works across several major currency pairs with good liquidity, reducing slippage and cost.
- Filter built in via trend bars helps avoid trading in flat or choppy markets.
- Easy to apply for traders who monitor short timeframes actively.
Drawbacks
- Scalping demands high discipline and fast execution; frequent monitoring is required.
- In very sideways or low-volatility conditions, the arrows may flash often but result in losses or whipsaws.
- The strategy may incur higher transaction costs (spreads/commissions) due to frequent trades, especially on less liquid pairs.
- Mistiming or delayed reaction to the arrow and bar color could result in poor risk-reward or quick stop-outs.
Example Case Study 1: EUR/USD M5 Chart
During the London session, EUR/USD on an M5 chart printed a green arrow from the Scalper Signal indicator at 1.0952. At the same time, Cynthia’s Trend Bars turned green.
A buy trade was entered at 1.0953 with a stop loss at 1.0943 and a take profit target of 1.0970 (17 pips).
The trade closed at the target within 25 minutes. Monitoring the bar colors allowed the trader to stay in till momentum faded.
Example Case Study 2: AUD/USD M1 Chart
In a rapid session for AUD/USD on M1, a red arrow appeared at 0.6738 signaling a sell. Cynthia’s Trend Bars had switched to purple at the same time.
A sell position was opened at 0.6738, stop loss at 0.6743, take profit at 0.6725 (13 pips).
Within 10 minutes, the pair dropped and hit the target. The short timeframe demanded quick monitoring, but the reward was realized swiftly.
Strategy Tips
- Trade mainly during the highest liquidity windows (London and New York overlap) for tighter spreads.
- Choose major currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD to reduce spread and slippage.
- If Cynthia’s Trend Bars are mixed or flat (neither clearly green nor purple), skip the trade to avoid sideways noise.
- Keep a tight stop loss relative to your take profit (for example, 1:1 or 1:1.5 risk-reward) and risk only a small percentage of your account per trade.
- Use a demo account first to familiarise yourself with how quickly signals and bars change on shorter timeframes.
This strategy provides a structured yet flexible setup for fast scalping on MT4
By combining the clear arrow signals of the Scalper Signal indicator with the trend bar color confirmation from Cynthia’s Trend Bars
With discipline, risk management, and adaptation to the selected currency pair and session, traders can aim for consistent intraday results.
Download Now
Download the “scalper signal.mq4” indicator for Metatrader 4
